HomeMy Public PortalAbout1993-023Member Mayor Anne Theis introduced the following resolution and moved its
adoption:
CITY OF MEDINA
RESOLUTION NO. 93-23
RESOLUTION APPROVING TAX INCREMENT
FINANCING PLAN FOR TAX INCREMENT
FINANCING DISTRICT NO. 1-8
BE IT RESOLVED By the City Council (the "Council") of the City of Medina,
Minnesota ( the "City") as follows:
Section 1. Recitals.
1.01. On January 29, 1985, the City adopted a Development Program (the
"Program") for Development District No. 1, pursuant to and in accordance with
Minnesota Statutes, sections 469.124 through 469.134.
1.02. Development District No. 1 was expanded on March 4, 1986 and April 21,
1987 and the Program was also modified on April 3, 1990.
1.03 . Since 1985, the City has established seven tax increment financing
districts within Development District No. 1 pursuant to the provisions of Minnesota
Statutes, sections 469.174 through 469.179 (the "TIF Act") , although Tax Increment
Financing District No. 1-7 has subsequently been decertified.
1.04. It has been proposed that the City establish Tax Increment Financing
District No. 1-8 to assist a wholesale distribution project.
1.05. In furtherance thereof, the City has caused to be prepared a Plan for
Tax Increment Financing District No. 1-8 describing the public improvements and
expenditures which the City will fund within Development District No. 1 to assist the
project.
1.06. The City has performed all actions required by law to be performed
prior to the approval of the Plan, including notice of the hearing and transmittal of
the Plan to Hennepin County and the Wayzata school district and holding a public
hearing regarding the Plan upon such notice as is required by law.
1.07. The Plan is contained in a document entitled "Tax Increment Financing
Plan, Tax Increment Financing District No. 1-8, City of Medina, Minnesota" dated
May 4, 1993, which document is on file at city hall.
1.08. The Council has fully reviewed the contents of the Plan and has on May
4, 1993 and this date conducted a public hearing thereon at which the views of all
interested persons were heard.
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Section 2. Findings Relating to the Establishment of Tax Increment
Financing District No. 1-8.
2.01. It is found and determined that it is necessary and desirable for the
sound and orderly development of the District and the City as a whole, and for the
protection and preservation of the public health, safety, and general welfare, that
the authority of the TIF Act be exercised by the City to establish Tax Increment
Financing District No. 1-8.
2.02. It is found that establishing Tax Increment Financing District No. 1-8
will discourage Thorpe Distributing Company from moving its warehouse operations
from Minnesota and will preserve and enhance the tax base of the state.
2.03. It is further found and determined, and it is the reasoned opinion of the
City, that the wholesale distribution project proposed in the Plan for Tax Increment
Financing District No. 1-8, could not reasonably be expected to occur solely through
private investment within the reasonably foreseeable future and that therefore the
use of tax increment financing is necessary to assist the project.
2.04. The expenditures proposed to be financed through tax increment
financing are necessary to permit the City to realize the full potential of the District
in terms of development intensity and tax base.
2.05. The Plan for Tax Increment Financing District No. 1-8 will afford
maximum opportunity, consistent with the sound needs of the City as a whole, for
the development of the tax increment financing district by private enterprise.
2.06. The Plan for Tax Increment Financing District No. 1-8 conforms to the
general plans for development of the City as specified in the City's 1992
comprehensive plan amendment.
2.07. The Council has relied upon the opinions and recommendations of its
staff, the planning commission and the personal knowledge of the members of the
Council in reaching its conclusions regarding the Plan and the establishment of Tax
Increment Financing District No. 1-8.
2.08. Tax Increment Financing District No. 1-8 is an economic development
tax increment financing district within the meaning of Minnesota Statutes, section
469.174, subd. 12.
Section 3. Approval of the Tax Increment Financing Plan; Establishment of
Tax Increment Financing District No. 1-8.
3.01. The Plan for Tax Increment Financing District No. 1-8 is hereby
approved.
3.02. Tax Increment Financing District No. 1-8 is hereby established. The
boundaries of Tax Increment Financing District No. 1-8 are as described in the Plan
and incorporated herein by reference.
3.03. The city clerk -treasurer is authorized and directed to transmit a
certified copy of this resolution together with a certified copy of the Plan to the
auditor of Hennepin county with a request that the original tax capacity of the
property within Tax Increment Financing District No. 1-8 be certified to the City
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pursuant to section 469.177, Subd. 1 of the Tax Increment Financing Act and to file
a copy of the Plan for Tax Increment Financing District No. 1-8 with the Minnesota
department of revenue.
3.04. For purposes of Minnesota Statutes, chapter 473F, the City elects to be
treated under Minnesota Statutes, § 469.177, subd. 3, clause (b) for Tax Increment
Financing District No. 1-8.
DATED: May 18 , 1993.
ATTEST:
Clerk -Treasurer
y
son it
Anne E. Theis, Mayor
The motion for the adoption of the foregoing resolution was duly seconded by member
Philip Zietlow
and upon vote being taken thereon, the following
voted in favor thereof:
Councilmembers John Ferris, James Johnson, Ann Thies, Zietlow and Mayor Theis.
and the following voted against same: None.
Whereupon said resolution was declared duly passed and adopted.
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